John Sheridan, President and CEO said, “Weak sales and revenue continued through the third quarter, against the backdrop of a challenging economy. As reflected in our revised guidance, supported by a recent strengthening in order activity, we expect stronger Q4 revenue. Also, we expect continuation of the improving trajectories in cash operating expense and cash flow.”

Implats will initially give R6 million ($690,000/£430,000) over three years to co-fund a niche project to use South African raw materials to explore novel on-board hydrogen storage devices for use in utility vehicles such as forklifts.